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Bearish consolidation.
(By Yann Quelenn)
• EUR/USD is consolidating. Hourly resistance is
located at 1.1878 (12/10/2017 high). Hourly
support is given at a distance at 1.1554
(07/11/2017 low). Expected to show continued
short-term consolidation before heading higher
towards resistance at 1.1878 ( 12/10/2017 high).
• In the longer term, the momentum is now
turning largely positive. We favour a continued
bullish bias. Key resistance is holding at 1.2252
(25/12/2014 high) while strong support lies at
1.0341 (03/01/2017 low).
